Corporate Updates – 26-04-2017

The Maternity Benefit (Amendment) Act, 2017

The Ministry of Labour and Employment has released a set of clarifications addressing concerns under the provisions of the Maternity Benefit (Amendment) Act, 2017. The release clarifies that the Act is applicable to contractual or consultant women employees, as well as to the women who are already on maternity leave at the time of enforcement of the Amendment Act. Further, the Act is also applicable to all mines, plantations, shops and establishments and factors, whether in organized or unorganized sector. However, the women employees who have already availed 12 weeks of maternity leave before the enforcement of the Act shall not be entitled to avail the extended benefit of a 26 weeks leave. The Act had received the assent of the President on March 27, 2017, and had come into force on April 1, 2017. However, the provision for creche facilities shall be enforced from July 1, 2017.

CBDT

CBDT has extended the date for filing of declaration under Pradhan Mantri Garib Kalyan Yojana, 2016 (PMGKY) upto 10th May, 2017. The Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016 (PMGKY) had commenced on 17th December, 2016 and was open for declarations up to 31st March, 2017. Representations from stakeholders have been received stating that in some cases tax, surcharge and penalty have been paid on or before 31st March, 2017 but the corresponding deposit under the Pradhan Mantri Garib Kalyan Deposit Scheme, 2016 (Deposit Scheme) could not be made by the said date. Accordingly, DEA has extended the date of making deposit under the Deposit Scheme upto 30th April, 2017 in respect of cases where tax, surcharge and penalty under PMGKY has been paid on or before 31st March, 2017. Subsequently, CBDT has extended the date of filing of declaration under PMGKY to 10th May, 2017 in cases where tax, surcharge and penalty under PMGKY has been paid on or before the 31st March, 2017, and deposit under the Deposit Scheme has been made on or before the 30th April, 2017.

News from NIRC of ICSI

NIRC of ICSI is organising Study Session on "Voluntary Liquidation Process & Removal of Names of Companies" on Thursday, the 27th April, 2017 from 5.30 PM onwards at NEW DELHI YMCA Conference Room, 2nd Floor, Library Building 1, Jaisingh Road, New Delhi. PCH : 02; No Participation Fee.

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